Italian drinks manufacturer Gruppo Campari has announced that it signed an agreement to acquire cognac producer Bisquit Dubouché for €52.5 million.
The deal, which includes inventory, trademarks, and production facilities, is expected to close during the first quarter of 2018.
The Bisquit Cognac brand offers a range of drinks products that are currently sold in South Africa, Belgium and Switzerland. The business is expected to achieve pro-forma net sales of approximately €9 million in 2018.
"We are very pleased to have acquired Bisquit Cognac, as it gives us the opportunity to expand our offering into the premium and growing cognac category," said Bob Kunze-Concewitz, CEO of Gruppo Campari.
"Moreover, we acquire a significant stock of high quality cognac and take full control of the cognac ageing process, thus enabling brand innovation opportunities in the future," he added.
"From a distribution standpoint we further strengthen our route-to-market, particularly in our recently established South African market, with potential upsides to further develop the newly acquired business internationally."
Elsewhere, Gruppo Campari announced that the sale of its Lemonsoda business to Royal Unibrew is expected to be completed on 2 January 2018. The €80 million deal was first announced in October.
The company, which produces brands such as Aperol, Campari, Wild Turkey and Grand Marnier, posted revenue growth of 8.1% in the first three quarters of the year, with sales reaching €1.27 billion.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.